Financial world needs reappraisal of old, western ideologies: Caveat Lector column

New bottles for new wines

The Fed's inflation policies didn't turn out too NICE

The old adage has it that generals are always fighting the last war. Has it dawned on anybody yet that we might be stuck fighting 21st century economic problems with 20th century economic theory and, more to the point, 20th century central bank policies?

Economics 101 taught us that inflation is a function of too much money chasing too few goods. Monetarism then taught us that by controlling the money supply, monetary authorities could open and close the growth and consumption taps. It was that

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here:

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...


You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: